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Tax treatment on perquisites

Tax queries 771 views 1 replies

Hi Friends,

Please find my query about tax treatment of perquisites after removing FBT. Earlier, my employer has been doing on salary components, who ever (employees) opted perquisites and submitted bills for the same then company is paying FBT on exempted value of perquisites and employee is claiming exemption under section  17. But now as per new budget FBT removed so all perquisites are taxablel in the hands of employee including medical treatment and LTA. Please clarify me.

Thanks

Nag

 

Replies (1)

 YES THE SITUATION WILL BE AS WHEN FBT WAS NOT INTRODUCED.NOW THE VALUE OF PERQUISISTES WILL BE CALCULATED AS EARLIER AND NOW TAXABLE IN THE HANDS OF EMPLOYEE ONLY


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